Ursa Major Technologies

Ursa Major Technologies, Inc. is an American aerospace and defense company based in Berthoud, Colorado that designs and manufactures rocket propulsion systems. Its product lines span liquid rocket engines, solid rocket motors, hypersonic systems and in-space mobility propulsion. Published engines include Hadley, a 5,000-lbf (22 kN) liquid oxygen/kerosene oxygen-rich staged combustion engine in initial production for low Earth orbit, geostationary, in-space and hypersonics applications; Ripley, a 50,000-lbf (220 kN) LOX/kerosene staged-combustion engine in development for the medium-launch market; Arroway, a 200,000-lbf (890 kN) LOX/methane full-flow staged combustion engine in development for medium and heavy boost; and Draper, a 4,000-lbf (18 kN) hydrogen peroxide/kerosene closed-catalyst-cycle engine for hypersonics and defense, which conducted a demonstration flight on January 27, 2026.

The company's original positioning was as a supplier of turnkey propulsion to the micro- and nanosatellite launch community, offering an alternative to launch providers building engines in-house. Over time its work shifted toward hypersonics and defense: in February 2026 it presented the HAVOC Missile System, a hypersonic weapon powered by the Draper engine, and it serves as prime contractor and vehicle integrator on the Affordable Rapid Missile Demonstrator program with the Air Force Research Laboratory. On the solid rocket motor side, it is advancing the U.S. Navy MK 104 design through critical design review and static fire under a $10 million award, building on second-source MK 104 Dual Thrust Rocket Motor work.

In August 2026 Ursa Major announced a definitive business combination with Bleichroeder Acquisition Corp. III, a SPAC led by the management team of Inflection Point Asset Management, to be renamed Inflection Point Mach X Bleichroeder Corp. and to trade on Nasdaq following an anticipated first-quarter 2027 closing.

Founding story

The company was founded in 2015 by Joe Laurienti, who serves as CEO in early records, to supply propulsion for the emerging microsatellite and nanosatellite industry, building a line of rocket engines intended to replace the industry norm of developing such engines in-house.

Business model

Ursa Major manufactures and sells propulsion systems and, increasingly, complete missile systems to government and commercial customers, positioning outsourced propulsion as an alternative to vertically integrated in-house engine development by launch and defense primes. It also acts as prime contractor and vehicle integrator on government demonstration programs.

Revenue comes from engine and motor sales and from government and commercial contracts and awards, including U.S. Department of Defense, U.S. Air Force Research Laboratory and U.S. Navy programs; the company reported more than $115 million in bookings through the first three quarters of 2025 and a $10 million award for MK 104 solid rocket motor work.

Traction

Ursa Major reports more than $115 million in bookings through the first three quarters of 2025, more than 5,500 ground tests and 140,000 seconds of testing, engines that have powered more than a dozen successful hypersonic missions, more than 10 successful missions of the Hadley-powered Department of War hypersonic test bed, and two successful ARMD flights. It has raised approximately $380 million in private markets and employs more than 360 people.

Latest developments

On August 25, 2026 Ursa Major announced a definitive business combination with Bleichroeder Acquisition Corp. III, a SPAC backed by Inflection Point Asset Management, reflecting an approximately $1.6 billion pre-money and $2.3 billion post-transaction equity valuation, supported by at least $350 million of PIPE commitments (approximately $110 million funded at signing) and up to $345 million in additional proceeds depending on redemptions, with closing anticipated in the first quarter of 2027 and trading on Nasdaq under IPXX. Chris Spagnoletti is identified as CEO in the announcement, following Dan Jablonsky, who was named CEO in the November 2025 funding release.